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Pathology Devices Market to Register Substantial Expansion by 2026

11-10-2017 07:55 AM CET | Health & Medicine

Press release from: Future Market Insights

/ PR Agency: Future Market Insights
Pathology Devices Market to Register Substantial Expansion

Pathology is the field in healthcare which provides accurate information regarding the progression of disease conditions. This information helps physicians to monitor and manage the therapies. Increasing advances in the diagnostic techniques such as PCR, biopsies, and other assays have catered to the needs of pathology services across various domains of healthcare industry. Biomarker technology is one the diagnostic tool which would get prominent potential in next five years.

Such advances in technologies has largely helped physicians to measure and monitor the progression life style diseases such as stroke, diabetes and cancer. Other technologies such as immunoassays, clinical chemistry are also framing the demand for pathology devices to next level. These technologies are prominently used across developed regions owing to lower cost and easy availability. However, the substandard quality and marginal efficiency would pose a threat for these technologies. Pathology devices used in diagnosing infectious diseases, cancer and other prevalent diseases have high demand across globe. Moreover, devices used during clinical trials, drug discovery and development are gaining pace owing to increasing pharmaceutical research and development.

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Pathology Devices Market: Drivers & Restraints

Increasing prevalence of chronic diseases, growing number of geriatric population and active initiatives from the government to regulate preventive measures of infectious diseases has triggered growth of pathology devices market, globally. The rising incidence of sexually transmitted diseases and lifestyle diseases is increasing the demand for anatomical and clinical chemistry pathologies. However, prevalent conditions such as autoimmune diseases, chromosomal diseases are elevating a need for more advanced molecular diagnostic devices. However, limited awareness across developing regions, lack of skill work force and high cost of devices are hindering the growth of pathology devices market.

Pathology Devices Market: Overview

By technology, immunoassays and clinical chemistry are two leading segments, owing to its higher adoption in developing regions. However, molecular diagnostic is expected to gain pace during the forecast period. This is due to its superior quality over conventional pathology techniques such as immunoassays and clinical chemistry. By application, the disease diagnostic was the leading application segment in pathology devices market. However, drug discovery and drug development is anticipated to grow at a healthy CAGR during the forecast period. By end users, diagnostic laboratories was the highest revenue generating segment in 2015. However, pharmaceutical and biotechnology companies and contract research organizations are expected to be the fastest growing segment during the forecast period.

Pathology Devices Market: Region-wise Outlook

By region, North America was the most dominating region in pathology devices market in 2015, followed by Europe. Favorable government regulations and high affordability are the prominent factors responsible for the growth of Nprth America & Europe pathology devices market. Moreover, the growing demand for door step diagnostic services and advancement in technologies are promoting the growth of pathology devices market in North America and Europe region. In October 2016, Roche Diagnostics has received US FDA approval for the cobas HBV and cobas HCV viral load test. This test provide rapid result with highest throughput in hepatitis B or hepatitis C conditions. Such commercialization of novel diagnostic tools provides promising growth opportunities for pathology devices market.

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Pathology Devices Market: Key Players

Some of the leading players operating in pathology device market are Becton, Dickson and Company, Ortho-Clinical Diagnostics, Roche Diagnostics, Abbott Laboratories, Inc., Johnson and Johnson, Danaher Corporation, Ventana Medical Systems, Hamamatsu Photonics K.K., Mikroscan Technologies, Definiens AG, Visiopharm, Thermo Fisher Scientific, Inc., Siemens Healthcare, Bio-Rad Laboratories, Inc., Sysmex Corporation, bioMérieux, 3DHistech, Quest Diagnostics and LabCorp. Receiving commercial approvals from the respective government authorities plays a crucial role in novel product launch in the global pathology devices market. Moreover, these companies are majorly focusing on the research and development area to introduce more economic pathology devices for developing regions.

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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.

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